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innogy and OurCrowd Announce Partnership to Deliver the Next Generation of Energy Solutions in Israel

Partnership formed to support a new frontier of utility collaboration

innogy and OurCrowd will identify promising startups in Israel beyond the energy domain

innogy SE, a leading European energy company, and OurCrowd, a leading global equity crowdfunding platform, today announced a new business partnership. The partnership will combine the strength of OurCrowd’s network and ability to scout investment opportunities in Israeli startups and match the business objectives of innogy to provide innovative products and services beyond the energy market.

Peter Terium, CEO of innogy SE said in Jerusalem:

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“We are on a quest for innovation and are excited to be present in the vibrant and innovative eco-system here in Israel. We have our own innovation team in Israel, connecting us with the startups and innovators in the country. OurCrowd is a natural partner for us. We are impressed by the depth of OurCrowd's exposure and the quality of their portfolio. This partnership will enhance our ability to identify, invest in and build new successful business – and to do it fast.”

Peter Terium, CEO innogy SE

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OurCrowd, a platform that connects investors and startups around the world, will help funnel Israeli technology startups that support innogy. This partnership will help innogy achieve its goal of enabling people to improve their quality of life by changing and enhancing the energy sector worldwide (and in Europe and Germany in particular) through decarbonisation, decentralisation and digitalisation.

Jon Medved, Founder and CEO of OurCrowd said: “We’ve been impressed by innogy’s growing presence in Israel and thrilled to enter into this new strategic partnership. This partnership will give our portfolio companies a quality gateway to the European markets, with one of the most innovative and well positioned new breed of utilities. The innogy mission is to inspire people, offering solutions and making lives easier – something that we at OurCrowd believe in passionately.”

innogy's Innovation Hub established an outpost in Israel to engage with innovative startups in its areas of interest (Smart & Connected, Urban Solutions, Disruptive Digital, Big Data and Machine Economy/Blockchain), aiming to collaborate and invest in accordance with its open innovation strategy. The innogy Israel outpost is managed by Mickey Steiner, who has a wealth of experience in the Israeli hi-tech industry and is based in Tel Aviv.